Silverado Gold Chart
posted on
May 22, 2009 06:19AM
Why are the shorts all worked-up ??
Let me explain why the short sellers are sweating blood. The share price has been building another bullish pendant flag and I would expect the short sellers to launch another attack to short sell the stock to try and drive down the share price to destroy the chart, it is Friday and they will do their best to paint the chart.
It has been one year since the first of several Tom Bundtzen NI 43-101 reports and since then the accumulation/distribution has been climbing steadly higher because of savvy investors. accumulating the shares. As you can see by the chart below, since May 9th, the accumulation has acclerated upwards as noted by the black line over-layed on top of the price chart.
The upward trend for Silverado's share price is still in tack, the 20 day moving average touched the 50 day moving average line before moving higher and it appears the the 20 day moving average line is once again the support level.
You can see by the chart below, that Silverado share price has been building another bullish pendant flag
The charts above were constructed yesterday evening, Thursday may 21
Please Note: You can clearly see the DIVERGENCE that has been forming on the Silverado chart. The accumulation/Distribution (black) line indicator runs from the bottom left corner to the upper right hand corner of the chart, showing a steady momentum of accumulation of shares bought by savvy investors that started back over a year ago when the first Tom Bundtzen NI 43-101 reports were published around April-May 2008. There is a HUGE DICHOTOMY building between shares accumulated/bought VS share price decline. Notice were the two paths cross in the middle of the chart forming an "X" heading in opposite directions, this is a clear indication that the short sellers have been painting the charts by pushing the price down by shorting and naked shorting the stock. This is like compressing a giant coil spring, ready to launch Silverado's share price to the moon when the panic starts by the shorts to buy shares to cover their risky bets. All it takes is for one brokerage house to throw in the towel to start the stampede and all that short selling that has built-up to depress the coil spring. will be released $$$$$